Archive for the 'Pay Progression' Category

Finsec win at Westpac Business Direct

Finsec members at Westpac Business Direct have voted to accept a variation to their CEA that will give them pay progression on their anniversary of employment in their current grade, rather than having to wait until the following 1 January as they do now.

This will mean that members at Business Direct will get pay increases earlier than they do now, and it brings them into line with colleagues on the main collective agreement.

This change has only come about because of consistent pressure from Finsec members and shows once again that sticking together and fighting for a fair deal does work. Well done!


Talks continue on IAG pay system

Finsec representatives met with IAG this week to further discussions on their proposed new remuneration system. The purpose of the meeting was to get more detail on IAG’s proposals, and to provide initial feedback. A further meeting will most likely take place in February, where more information will be available on the impact of the new system.

Asteron and Credit Union South trying to breathe life into discredited pay systems

Finsec is raising concerns that Asteron and Credit Union South are both attempting to revive the failed pay systems of the 1990’s, that remove’s Finsec members right to negotiate pay increases in collective bargaining and introducing pay bands instead of salary steps. Finsec members are considering proposals from both employers that in effect hand over all pay decisions to the bosses.

Finsec members favour a pay system with two significant components:
•    Negotiated pay increases through collective bargaining to cover increases in the cost of living or make other adjustments
•    Movement up pay steps on the basis of demonstration of skills (rather than the achievement of sales targets)
A third component would be additional payments on the basis of performance, but in our view this should comprise a minor proportion of overall pay.

Finsec General Secretary Andrew Casidy categorises Asteron and Credit Union South’s moves as a backward step. “These systems cede total control over pay to the employer and invariably lead to pay falling behind similar employers. We saw Westpac pay lag behind other banks in the 1990s due to this kind of pay system, and it is only now catching up after a complete overhaul of the way pay is determined.”

Finsec to meet with Westpac Cards Centre re-grading

The issue of the unfair re-grading of Westpac Cards Call Centre staff is still being pursued by Finsec, after mediation failed to find a resolution to the issue. Finsec and Westpac have agreed to a high level meeting after CEA negotiations in a final attempt to resolve the issue. Gossip will keep you posted on developments.

Cautious support for competency pay at Westpac

Finsec members in Westpac have voted in support of the introduction of a competency pay system. 60% of members voted in the ballot and of those that voted 82% cast an indicative vote in favour of replacing performance pay with the proposed competency pay system.

As a result of indicative support from Finsec members the proposal will now be part of the overall settlement proposal that only union members can vote on after negotiations in early July. The proposal will only take effect if this overall package is accepted by Finsec members.

Westpac Union Council Chair Maxine Mullen said that Finsec members now needed to make sure the system is fairly implemented. “I ran a number of meetings and while members are happy to be moving away from performance pay we are also nervous that the bank may manipulate the new system. It is up to all of us to make sure that doesn’t happen and that a really good competency pay system is put in place.”

Westpac members encouraged to vote on competency pay

Finsec members at Westpac are encouraged to cast an indicative vote on the issue of competency based pay. A long campaign fought over many years has led to the development of the new model by Finsec and the bank.

Normally, Finsec seeks votes from at least 60% of members to get an accurate view of the majority, but attendance at paid union meetings over the last week fell well short of that target. Often people were not able to attend due to understaffing in their worksite – another issue that needs fixing in Westpac!

Members who did not attend their local meeting can cast an individual vote over the coming week, using a fax back form and getting it signed by their delegate. These votes are due back by 5 June.

Voting on new Westpac pay system starts next week

A fifteen year campaign to take targets out of the core pay system at Westpac will come to fruition next week, when indicative voting on the proposed new competency pay system begins.

Westpac Union Council Chair Maxine Mullen said that the breakthrough came in collective agreement negotiations last year, and that all Finsec members should welcome the option of a fairer pay system.

“I’d like to encourage all Finsec members at Westpac to come to the meeting and have your say about the new system,” said Maxine. “Only Finsec members will make this decision and cast a vote that counts about a pay system that recognises competencies. This is a good step to take us into our collective agreement negotiations, where we can do even more to achieve our Better Banks Agenda for Change.”

Mullen said the meetings over the next two weeks will provide the last opportunity for all Finsec members to get together before our negotiations start in early July. Details of the indicative voting meetings have been sent to all worksites, along with a summary of the new competency based pay system.

Finsec members to vote on Westpac pay system

Finsec members at Westpac will have the opportunity to vote on a proposed new competency based pay system in paid union meetings that will run from 19 to 30 May. This will be an indicative vote to gauge support for the proposal to move from a performance based pay system to a competency pay system.

For the past nine months Westpac Finsec Union Council representatives have been meeting with Westpac to develop a competency based pay system. Members agreed at collective agreement negotiations last year to move away from a performance pay system to a competency one.

Westpac Union Council Chairperson Maxine Mullen said “Finsec members have worked hard to get rid of performance pay in the bank. It has taken us some time, but each year we have kept chipping away at it. Members should feel proud of what they have achieved so far”.

Finsec members providing input into Westpac pay system


Union delegates from Westpac branches in Auckland, Wellington and Christchurch held meetings this week to give direct input into the proposed new pay system. Members discussed the competencies staff would be assessed on under the new system.

Michael Wood, National Organiser for Westpac, said that the meetings went well and provided lots of information that will be used to improve the model. Union Councillors working with Finsec on the pay system would be taking all issues identified by delegates to the bank.

“Delegates have made it very clear that they want a pay system that is simple, applicable to the job and as objective as possible,” said Michael.

Finsec delegates in Call Centres and Operation will also be meeting to discuss the new pay system over the next few weeks. The final competency based pay model will be taken out to all Finsec members to vote on in May. 

New pay system moving forward at Westpac

 The Better Banks campaign objective of fairer pay systems in the sector is a step closer with ongoing developments at Westpac.

 The Finsec Union Council met with Westpac in January to discuss union input into the development of a new competency pay system to replace the current performance based system. Finsec members on the Westpac Union Council will work with Westpac to develop assessments within their areas of expertise. An overarching group with union and bank management representation will oversee the whole process. 

Westpac Union Council Chair Maxine Mullen said the changes represented a real win for union campaigning. “Westpac has agreed to make changes to key aspects of the proposed new competency pay model because of the pressure that union members have built up. We are keeping our negotiated pay increase, our increase on promotion and we retain the same number of salary steps and current maximum competent salary.” 

Maxine said that these wins now need to be spread across the whole finance sector.

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